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Hi Winnie,

It depends on the exclusive agreement you've signed with the agency.

You may (before signing the exclusive agreement) request to exclude "clause to share forfeiture fee" based on mutual agreement.

If you've signed the exclusive agreement and "agreed" to pay the agency 50% in event of forfeiture, then the agency will have rights to claim it from you.

Hope this helps to clarify your doubt.

Warm Regards
Paul Wong @ ERA Read More

Hi Winnie,

It depends on the exclusive agreement you've signed with the agency.

You may (before signing the exclusive agreement) request to exclude "clause to share forfeiture fee" based on mutual agreement.

If you've signed the exclusive agreement and "agreed" to pay the agency 50% in event of forfeiture, then the agency will have rights to claim it from you.

Hope this helps to clarify your doubt.

Warm Regards
Paul Wong @ ERA Read More

Hi,

If the buyer forfeit, the commission agreement or exclusive, there is a clause stated 50% of option money.

You agent has manage to procure a buyer (help you search a buyer) for you. Your agent may have put in hard work, invest in advertisment e.t.c. In any event that the buyer did not excercise, it is not your agent fault.

Since the option money of 1% is also like a bonus to you as you do not have to pay for advertising e.t.c. Sharing of 50% is okay as most agent no basic income plus no CPF.

You can ask the agent to continue market to get another buyer or look for another one. You are not shortchanged in anyway.

Agents have to earn a living too, and with buyers forfieture, he has lost more income. If the unit is cobroke, meaning two agents, they may even to share the 50% of option money in between them to.

Don't feel to hard about this, if the agent is providing good service continue to use him. I am sure he will work harder for you too.

Many thanks Read More